Wetouch Technology Inc (WETH)

[Awl416]

LOL

[Awl416]

That was quick

[Awl416]

Oink oink

[abrooklyn]

WETOUCH TECHNOLOGY INC.
FORM 8-K
(Current report filing)
Filed 02/23/24 for the Period Ending 02/23/24

https://www.otcmarkets.com/filing/conv_pdf?id=17303264&guid=szQ-kWUl8lFaJth

[abrooklyn]

Wetouch Announces Strategic Collaboration with IDEC Corporation, Elevating Presence in Japanese Touch Display Market

Source: PR Newswire (US)
CHENGDU, China, March 18, 2024 /PRNewswire/ -- Wetouch Technology Inc.(NASDAQ: WETH), a pioneering force in the global touch display industry, is proud to announce its latest milestone in establishing a robust international footprint. Through relentless dedication to innovation and customer satisfaction, Wetouch has solidified its position as a trusted provider of high-quality touch display solutions worldwide.

Building on its esteemed reputation and unwavering commitment to excellence, Wetouch has forged a strategic collaboration with IDEC Corporation, a distinguished leader in automation equipment based in Japan. IDEC's dedication to creating solutions that bridge the gap between people and machines aligns seamlessly with Wetouch's mission to deliver cutting-edge technology that enhances user experiences across various industries.

With a shared vision for advancing human-machine interaction (HMI), the official partnership between Wetouch and IDEC represents a significant milestone in the evolution of touch display technologies. This collaboration not only underscores Wetouch's continued growth and influence in the international market but also signifies a deeper penetration into the highly coveted Japanese touch display sector.

"Partnering with IDEC Corporation is a testament to Wetouch's unwavering commitment to innovation and customer-centricity," said Mr. Tsungyi Lien, the CEO of Wetouch. "We are thrilled to join forces with IDEC to deliver groundbreaking touch display solutions that will revolutionize the way people interact with technology in Japan and beyond."

IDEC Corporation, renowned for its comprehensive range of automation solutions and esteemed reputation in the field of switches, brings a wealth of expertise and credibility to the partnership. Together, Wetouch and IDEC are poised to drive advancements in HMI technology, empowering businesses and consumers alike with unparalleled touch display experiences.

The collaboration between Wetouch and IDEC Corporation heralds a new era of innovation and opportunity in the touch display industry. As both companies continue to push boundaries and elevate industry standards, customers can expect an unparalleled level of quality, reliability, and performance in touch display solutions.

For more information about Wetouch and its innovative touch display solutions, visit http://www.wetouchinc.com To learn more about IDEC Corporation and its comprehensive automation solutions, visit https://www.idec.com

About Wetouch Technology Inc.:

Wetouch is a leading provider of high-quality touch display solutions, committed to revolutionizing human-machine interaction across various industries. With a focus on innovation and customer satisfaction, Wetouch delivers cutting-edge technology and unmatched performance in touch display solutions worldwide.

About IDEC Corporation:

IDEC Corporation is a globally recognized leader in automation solutions, dedicated to creating innovative products that connect people and machines in Japan. With a diverse portfolio of automation equipment and a steadfast commitment to excellence, IDEC is shaping the future of automation technology worldwide.

Safe Harbor Statement

This press release contains statements that may constitute "forward-looking" statements pursuant to the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "aims," "future," "intends," "plans," "believes," "estimates," "likely to," and similar statements. Statements that are not historical facts, including statements about the Company's beliefs, plans, and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. Further information regarding these and other risks is included in the Company's filings with the SEC. All information provided in this press release is as of the date of this press release, and the Company does not undertake any obligation to update any forward-looking statement, except as required under applicable law.

For investor and media inquiries, please contact:

Michael Wei

Horizon Research Management Consultancy

Email: [e-mail]

Cision View original content:https://www.prnewswire.com/news-releases/wetouch-announces-strategic-collaboration-with-idec-corporation-elevating-presence-in-japanese-touch-display-market-302091545.html

SOURCE WETOUCH TECHNOLOGY INC


Copyright 2024 PR Newswire

[abrooklyn]

WestPark Capital Announces Closing of $10.8 Million Public Offering of Common Stock for Wetouch Technology Inc (Nasdaq: WETH )

Source: Business Wire
WestPark Capital, Inc., a full-service investment bank and securities broker-dealer, today announced the closing of a $10.8 Million public offering for Wetouch Technology Inc. (Nasdaq: WETH ). (“Wetouch” or the “Company”), is a Nevada company, through its wholly-owned subsidiary, and is engaged in the research, development, manufacturing, sales and servicing of projected capacitive touchscreens. The offering consisted of 2,160,000 shares of common stock at a price to the public of $5.00 per share (the “Offering”).

Proceeds from the Offering will be used for the construction of a new factory, facilities and office buildings, the purchase of two production lines in the new factory, research and development, the repayment of convertible promissory notes, and working capital and general corporate purposes.

WestPark Capital, Inc. served as lead book running manager for the Offering.

The shares of common stock described above were offered by the Company pursuant to a registration statement on Form S-1 (File No. 333-270726) that was initially filed by the Company with the U.S. Securities and Exchange Commission (SEC) on March 21, 2023 and declared effective by the SEC on February 14, 2024. The Offering was made by means of a written prospectus that forms a part of the registration statement. A final prospectus relating to the Offering was filed with the SEC and is available on the SEC’s website located at http://www.sec.gov and may also be obtained from WestPark Capital, Inc., 1800 Century Park East, Suite 220, Los Angeles, CA 90067, tel: [phone], e-mail: [e-mail].

About WestPark Capital, Inc.

WestPark Capital is a full-service investment bank focused on emerging growth sectors such as healthcare, software, technology, biotechnology, financial services, manufacturing, consumer products, media and telecom industries, among other categories. WestPark Capital provides a comprehensive range of corporate finance services, including initial public offerings, follow-on offerings, private placements, CMPOs, RDs, ATM, SIPOs and corporate finance advisory services. Additional information about WestPark Capital is available at www.wpcapital.com or at [e-mail].

This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.


View source version on businesswire.com: https://www.businesswire.com/news/home/20240228892455/en/

WestPark Capital, Inc.
Jason Stern
[e-mail]

[Awl416]

Uh oh

[abrooklyn]

Busy day….

WETH
Wetouch Technology Inc.
Common Stock
3.05
-4.45
-59.33%
Delayed (15 Min) Trade Data: 04:00pm 02/21/2024
OPEN
4.00
DAILY RANGE
2.61 - 4.49
VOLUME
565,453

[Monksdream]

News

February 21, 2024
12:03 pm ET
Wetouch Technology Shares Drop 55% After Public Offering Prices
Dow Jones
12:01 pm ET
On Feb 20, 2024 Wetouch Technology Announced Pricing Of $10.8M Public Offering Of Common Stock; Co Began Trading On The Nasdaq Capital Market Today
Benzinga

[Renee]

WETH moved to the Nasdaq from the OTC:

https://otce.finra.org/otce/dailyList?viewType=Deletions

[abrooklyn]

🙄🙄🙄

https://www.otcmarkets.com/stock/WETH/disclosure

https://www.otcmarkets.com/filing/conv_pdf?id=17254031&guid=rQd-kqgiDmQFJth

https://www.otcmarkets.com/filing/conv_pdf?id=17261551&guid=rQd-kqgiDmQFJth

https://www.otcmarkets.com/filing/pdf?id=17279867&guid=rQd-kqgiDmQFJth

[molee]

This P O S ever gonna trade ???

[molee]

W E T H

[abrooklyn]

We applied to list our common stock on the Nasdaq Capital Market under the symbol “WETH”. We believe that upon completion of the Underwritten Offering contemplated by this prospectus, we will meet the standards for listing on the Nasdaq Capital Market. No assurance can be given that our application will be approved or that the trading prices of our common stock on the OTCQB will be indicative of the prices of our common stock if our common stock were traded on the Nasdaq Capital Market. This Underwritten Offering is contingent upon the listing of our common stock on the Nasdaq Capital Market.

[abrooklyn]

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

AMENDMENT NO. 4 TO
FORM S-1

https://www.otcmarkets.com/filing/html?id=17066344&guid=W9J-k69wzo89dth

[abrooklyn]

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549

FORM 10-Q

https://www.otcmarkets.com/filing/html?id=17056751&guid=W9J-k69wzo89dth

[molee]

When does this POS lose the "D" ? It's been 2 months now ...

[abrooklyn]

WETOUCH TECHNOLOGY INC.

FORM S-1/A
(Securities Registration Statement)
Filed 09/22/23

https://www.otcmarkets.com/filing/conv_pdf?id=16944194&guid=yeg-k69wzoiqJth

[abrooklyn]

FORM 8-K

CURRENT REPORT
Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): September 12, 2023

WETOUCH TECHNOLOGY INC. https://www.otcmarkets.com/filing/html?id=16926197&guid=3Bg-kpu8ZQRnJth

[Renee]

WETH: one for 20 reverse split: (PPS closed at .56)

https://otce.finra.org/otce/dailyList?viewType=Symbol%2FName%20Changes

[molee]

Taken from recent Q report : https://www.otcmarkets.com/filing/html?id=16868621&guid=xbN-kFZIIMRnJth

NOTE 15 — SUBSEQUENT EVENT

On February 17, 2023, the Board of Directors of the Company authorized a reverse stock split with a ratio of not less than one to five (1:5) and not more than one to eighty (1:80), with the exact amount and the timing of the reverse stock split to be as determined by the Chairman of the Board. On July 16, 2023, the Chairman of Company issued a certificate to determine that the reverse stock split ratio of its common stock was fixed at 1-for-20. The Company will retroactively restate the number of shares of common stock outstanding once it is implemented.

[Welcome2Pinkyland]

Green days are good days $WETH

[molee]

They haven't set the ratio of the R/S nor implemented it . ( That I have seen . ) .

[goingUPagain]

So how many in os after the rs?

[molee]

Good one ..FOMO ? Nope ...

[Welcome2Pinkyland]

I read on Twitter $WETH is only planing on 3 more S-1/A’s in 2023. Get excited get get excited $$

[molee]

$WETH Surprising interest today . Don't see why ...

[molee]

$WETH Another S-1/A filed today >> https://www.otcmarkets.com/stock/WETH/disclosure

How many does THAT make ?

[Welcome2Pinkyland]

They bought $40m worth of shares at .25 to cover their naked short position. If not price should go up from here- either that or their $WETH investment strategy is similar to mine.

[Welcome2Pinkyland]

Minor details

[molee]

From the sale of 160 million shares @ 25 cents . Net $40 million .

Stock split still on the table . I will consider buying AFTER the split .

[Welcome2Pinkyland]

It takes time for them to count all the cash on hand $92m. $WETH

[molee]

10-Q finally posted : https://www.otcmarkets.com/stock/WETH/disclosure

[molee]

Oh looky , another S-1/A has been filed : https://www.otcmarkets.com/stock/WETH/disclosure

[molee]

Market isn't buying anything $WETH is putting out .... Something smells poopy .

[Welcome2Pinkyland]

Cash on hand at the of 2022 $51m. Current market cap. $45m $WETH

[Welcome2Pinkyland]

EPS was .27 not .05

[Welcome2Pinkyland]

$40m revenue. EPS .05 per share. $WETH

[molee]

10K is out > https://www.otcmarkets.com/stock/WETH/disclosure

[molee]

The 10K will now be late : https://www.otcmarkets.com/stock/WETH/disclosure

[molee]

$WETH > More mumbo-jumbo : "proposed" S-1 is out :

https://www.otcmarkets.com/stock/WETH/disclosure

https://www.otcmarkets.com/filing/html?id=16505762&guid=r0A-k6fOuPKFQth

"We expect to effect a 1-for-[ ] reverse stock split of our outstanding common stock, with the number of authorized shares of common stock reduced ratably, effective immediately following the effectiveness of the registration statement of which this prospectus forms a part, prior to the completion of this offering (the “Reverse Stock Split”). On February 17, 2023, our Board of Directors (the “Board”) authorized a reverse stock split of each of the outstanding shares of our common stock, $0.001 par value per share, at a ratio to be determined by the Board of within a range of a minimum of a one-for-five (1-for-5) to a maximum of one-for-eighty (1-for-80) (the “Reverse Stock Split Ratio”), with the exact ratio to be set at a number within this range as determined by the Board in its sole discretion, with no change in par value. We intend for the Board to effect such reverse stock split in connection with the Underwritten Offering and our intended listing of our common stock on the Nasdaq Capital Market. However, we cannot guarantee that such reverse stock split will occur based on the ratio stated above, that such reverse stock split will be necessary or will occur in connection with the listing of our common stock on the Nasdaq Capital Market, or that the Nasdaq Stock Market will approve our initial listing application for our common stock upon such reverse stock split."

[abrooklyn]

Wetouch Technology Inc. Announces Construction Progress on New Production Facility

https://www.globenewswire.com/en/news-release/2022/09/22/2521004/0/en/Wetouch-Technology-Inc-Announces-Construction-Progress-on-New-Production-Facility.html

Wetouch Technology Inc. Announces Construction Progress on New Production Facility
September 22, 2022 08:30 ET | Source: Wetouch Technology Inc.





...
Chengdu, China, Sept. 22, 2022 (GLOBE NEWSWIRE) -- Wetouch Technology Inc. (OTC: WETH) ("Wetouch" or "the Company"), a specialty manufacturer of medium to large sized projected capacitive touchscreens, today announced that it has completed approximately 80% of the construction work on its new high-standard production facility in Chengdu, for which the Company expects to complete the construction work before the end of 2022.

The Company has completed roof sealing on the facility, which underscores Wetouch’s ongoing commitment to enhance its capacity and capability to meet fast-growing customer needs, including world’s top 500 enterprise customers such as Siemens, Canon and Delta. Wetouch will invest in total RMB76 million on the construction of the factory, and also invest another RMB20 million to build two fully-automated touchscreen production lines at the facility that are expected to start mass production in the first quarter of 2023.

The production facility covers an area of nearly 20 acres, with a construction area of nearly 30,000 square meters. The new facility is located in the Strait Industrial Park, Wenjiang District, Chengdu City.

Zongyi Lian, Chief Executive Officer of Wetouch commented: “We are pleased to announce significant progress on the construction work of our new facility, which would help us enhance production capacity and efficiency to expand our partnership with global partners. Wetouch is committed to enabling customers by enhancing our capability to expedite the development and commercialization of more innovative touchscreen products, and we expect our new production facility could potentially generate annual sales exceeding RMB1 billion, and a net income of more than RMB200 million once put into use."

Forward Looking Statements

The information in this press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These statements can be identified by the fact that they do not relate strictly to historical or current facts. Forward-looking statements often include words such as "anticipates," "estimates," "expects," "projects," "intends," "plans," "believes" and words and terms of similar substance in connection with discussions of future operating or financial performance. The financial guidance reflects the Company's current and preliminary views on the market and operational conditions, which are subject to change.

The Company's forward-looking statements are based on management's current expectations and assumptions regarding the Company's business and performance, the economy and other future conditions and forecasts of future events, circumstances and results. As with any projection or forecast, forward-looking statements are inherently susceptible to uncertainty and changes in circumstances. The Company's actual results may vary materially from those expressed or implied in its forward-looking statements. Important factors that could cause the Company's actual results to differ materially from those in its forward-looking statements include government regulation, economic, strategic, political and social conditions and the risk factors set forth in the Company’s Annual Report for the year ended December 31, 2021 filed with the SEC on April 15, 2022.

About Wetouch Technology Inc.

Wetouch, through its indirect wholly-owned subsidiary Sichuan Vtouch Technology Co., Ltd, is engaged in the manufacturing and sales of medium to large sized projected capacitive touchscreens, ranging from 7.0 inch to 42 inch screens. The Company offers touchscreens for a variety of applications, including GPS/car entertainment panels for automotive industry, industrial human-machine interface (“HMI”), financial and banking terminals, point of sale, lottery and gaming machines, smart home, robots and charging stations. Wetouch sells its products both domestically in China and internationally, covering major areas in China, including but not limited to the eastern, southern, northern and southwest regions of China. Wetouch has shipped products to South Korea and several European countries such as Spain and Germany and has established a strong and diversified client base. As of September 7, 2022, Wetouch holds 10 patents and has passed a number of industry certifications, including ISO9001, ISO14001, TS16949, FCC, CE, ROHS, CCC, ROHS.

Investor Relation Contact:

Gordon Cai
[e-mail]




Tags Wetouch Technology Inc. OTC: WETH Sichuan Vtouch Technology Co. manufacturing and sales medium to large sized touchscreens HMI
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[abrooklyn]

http://www.wetouchinc.com

[abrooklyn]

https://www.otcmarkets.com/filing/pdf?id=16474196&guid=Xv4-kp4gOAsgdth

_______________________________
In the Matter of
Wetouch Technology, Inc.
No. 29, Third Main Avenue Shigao Town, Renshou County Meishan, Sichuan, 620500 China
File No: 333-259499
_______________________________
ORDER DECLARING REGISTRATION STATEMENT ABANDONED UNDER THE SECURITIES ACT OF 1933, AS AMENDED
UNITED STATES OF AMERICA BEFORE THE
SECURITIES AND EXCHANGE COMMISSION March 8, 2023
Wetouch Technology, Inc. filed with the Commission a registration statement to register securities under Section 6(a) of the Securities Act of 1933. The registration statement has been on file for more than nine months and has not yet become effective.
Wetouch Technology, Inc. has failed to respond to notice under Rule 479 that the registration statement would be declared abandoned unless it was timely amended or withdrawn;
In view of the foregoing, it is ORDERED that the registration statement be declared abandoned on March 8, 2023.
For the Commission, by the Division of Corporation Finance, pursuant to delegated authority.
Larry Spirgel Office Chief

[Welcome2Pinkyland]

Nope

[molee]

Do you know what this is ? : "Sec Staff Action/letter (sec Staff)"

https://ih.advfn.com/stock-market/USOTC/wetouch-technology-qb-WETH/stock-news/90451644/sec-staff-action-letter-sec-staff

[jtomm]

Yeah, none of it really seems to make common sense. Company claims to have $45m cash (and almost no debt) and yet is raising another $40m?? Something just doesn't sound right.

[molee]

So a likely 1 for 80 reverse split ( like the one in 2020 ) just after this :

On January 19, 2023, Wetouch Technology Inc., a Nevada corporation (the “Company”), entered into a Securities Purchase Agreement (the “Agreement”) with the buyers indicated therein (collectively, the “Buyers”), pursuant to which the Company sold to the Buyers an aggregate of 160,000,000 shares of the common stock of the Company (the “Shares”) for an aggregate purchase price of $40,000,000, or $0.25 per share.

[jtomm]

The problem with these Chinese companies is that the financials may not be true. The company's questionable auditor has been associated with many dubious Chinese stocks:

https://pcaobus.org/news-events/news-releases/news-release-detail/pcaob-sanctions-former-bf-borgers-audit-director-for-violating-pcaob-rules-and-standards-in-four-audits-of-three-public-companies

[Welcome2Pinkyland]

big time. or also known as ->just another day pinkyland.